Northern Lights Correlations

GGM Etf

USD 28.86 0.35 1.23%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northern Lights moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Lights moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northern Lights Correlation With Market

Almost no diversification

The correlation between Northern Lights and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Lights and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Northern Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Northern Lights. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Northern Etf

0.88	VTI	Vanguard Total Stock	Pair Corr
0.86	SPY	SPDR SP 500	Pair Corr
0.86	IVV	iShares Core SP	Pair Corr
0.96	VIG	Vanguard Dividend	Pair Corr
0.8	VV	Vanguard Large Cap	Pair Corr
0.97	RSP	Invesco SP 500	Pair Corr
0.86	IWB	iShares Russell 1000	Pair Corr
0.78	ESGU	iShares ESG Aware	Pair Corr
0.97	DFAC	Dimensional Core Equity	Pair Corr
0.85	SPLG	SSgA Symbol Change	Pair Corr
0.92	ITWO	Proshares Russell 2000	Pair Corr
0.68	AMPD	Tidal ETF Services	Pair Corr
0.94	CPST	Calamos ETF Trust	Pair Corr
0.96	FFSM	Fidelity Small Mid	Pair Corr
0.77	OZEM	Roundhill GLP 1	Pair Corr
0.81	PBD	Invesco Global Clean	Pair Corr
0.74	LBAY	Tidal ETF Trust	Pair Corr
0.68	NRES	Xtrackers RREEF Global	Pair Corr
0.62	RNWZ	Elevation Series Trust	Pair Corr
0.94	AVDS	Avantis International	Pair Corr
0.73	VGMS	Vanguard Multi Sector	Pair Corr
0.69	IGSB	iShares 1 5	Pair Corr
0.64	OBND	SSGA Active Trust	Pair Corr
0.87	TRPA	HARTFORD AAA CLO Symbol Change	Pair Corr
0.73	SLV	iShares Silver Trust	Pair Corr
0.92	LEGR	First Trust Indxx	Pair Corr
0.84	IGHG	ProShares Investment	Pair Corr
0.74	LALT	Invesco Multi Strategy	Pair Corr
0.75	HYMU	BlackRock High Yield	Pair Corr
0.65	EVLN	Morgan Stanley ETF	Pair Corr
0.73	UCIB	UBS AG London	Pair Corr
0.88	TYLD	Cambria ETF Trust	Pair Corr
0.73	URNM	Sprott Uranium Miners	Pair Corr
0.66	TAN	Invesco Solar ETF	Pair Corr
0.76	XMMO	Invesco SP MidCap	Pair Corr

Moving against Northern Etf

0.68

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

Northern Lights Competition Risk-Adjusted Indicators

There is a big difference between Northern Etf performing well and Northern Lights ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Northern Lights' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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